The nanomedicine market consists of sales of nanotechnology-based applications in medicines by entities (organizations, sole-trader, and partnerships) that are engaged in utilizing nanomaterials for the enhanced diagnosis and treatment of various health issues. Nanomedicine is a branch of medicine that applies nanotechnology knowledge and tools for the prevention and treatment of disease. They are nanoscale materials that are used in diagnosis and treatment procedures in oncology, cardiology, infectious diseases, orthopedics, and other medical areas. Nanomedicine is an important instrument that enables personalized, targeted, and regenerative medicine by delivering improved new drugs, treatments, and implantable devices to clinicians and patients.
Global Nanomedicine Market Size And Drivers:
The global nanomedicine market is expected to grow from $190.83 billion in 2020 to $221.12 billion in 2021 at a compound annual growth rate (CAGR) of 15.9%. The change in growth trend of the nanomedicine market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The nanomedicine market is expected to reach $361.44 billion in 2025 at a CAGR of 13.1%. The rising burden of complex and chronic diseases across the globe is expected to contribute to the growth of the nanomedicine market in the forecast period.
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Trends In The Global Nanomedicine Market
4D Nanomedicine is a key trend gaining popularity in the nanomedicine market. 4D nanomedicine is used in medical procedures for safer treatment with nanoparticles. 4D nanomedicine is made with biodegradable and biocompatible nanoalloys that do not accumulate in the body, thus limiting the side effects. 4D nanomedicine is accepted as a fundamental development in the treatment and diagnosis of cancer. For instance, in 2020, a research team from The Department of Chemical Sciences, University of Padua investigated and confirmed the effectiveness of inorganic 4D nanoparticles in the biomedical field. 4D nanomedicine offers several advantages to the biomedical field including reduced side effects in a living organism, minimal environmental impact, improved quality of care, and spontaneous effect.
Global Nanomedicine Market Segments:
The global nanomedicine market is further segmented –
By Type: Nanoparticles, Nanoshells, Nanotubes, Nanodevices, Others
By Modality: Diagnostics, Treatments
By Application: Clinical Oncology, Infectious Diseases, Clinical Cardiology, Orthopedics, Others
By Geography: The global nanomedicine market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American nanomedicine market accounts for the largest share in the global nanomedicine market.
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Nanomedicine Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides nanomedicine market overviews, analyzes and forecasts market size and growth for the global nanomedicine market, nanomedicine market share, nanomedicine market players, nanomedicine market segments and geographies, nanomedicine market’s leading competitors’ revenues, profiles and market shares. The nanomedicine market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
